Weyerhaeuser Analyst Meeting DC – Day 1 (Economic Overview)
1. Good Morning
Weyerhaeuser Real Estate Company
Analyst Seminar
May 2005
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DTP2844.ppt • 5/12/2005 •
2. Forward-looking Statements
This presentation contains statements that are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use
of forward-looking terminology such as “expects,” “may,” “will,” “believes,” “should,” “approximately,”
anticipates,” “estimates,” “plans,” and “probably,” and the negative or other variations of those terms or
comparable terminology or by discussions of strategy, plans or intentions. In particular, some of these forward-
looking statements deal with forecasts regarding the outlook for the national housing market, demand, market
position in particular markets, competitive landscape in particular markets, expectations regarding increased
market share of large homebuilders, builder/dealer consolidation affordability of particular housing markets,
large base of first-time homebuyers in particular housing markets, barriers to entry in particular housing
markets, financial goals, the regulatory environment and timing of land entitlement process, increase in land
values, softness of certain local housing markets, labor demand and supply, innovation, technology, cost
reduction, cycle time reduction, quality improvement, competition based upon solutions, and similar matters.
The accuracy of such forward-looking statements is subject to a number of risks, uncertainties and assumptions
that may cause actual results to differ materially from those projected, including, but not limited to, the effect of
general economic conditions, including the level of interest rates, exchange rates and inflation; immigration and
population growth; the relative strength of various U.S. and global business segments; local market economies
and employment growth; energy prices; raw material prices; the effect of governmental actions; natural
disasters; and the outbreak of terrorism, war and other hostilities.
In addition, some information in this presentation is derived from publicly available information, building
industry publications and websites, data complied by market research firms, and similar sources. Although we
believe that this information is reliable, we have not independently verified any of this information and we cannot
assure you that it is accurate.
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DTP2844.ppt • 5/12/2005 •
3. Agenda
7:00 a.m. WRECO Overview
7:30 a.m. Homebuilding Operations
8:50 a.m. Land and Land Development
10:10 a.m. Construction Practices and Trends
11:10 a.m. South Village Case Study
11:30 a.m. Meeting Adjourns
Noon Depart for South Village Tour
3:30 p.m. Return to airport
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4. Weyerhaeuser
Real Estate Company
Daniel S. Fulton
President, Weyerhaeuser Real Estate Company
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5. Weyerhaeuser Real Estate Company
Single family homebuilding
• Retail business — sell direct to final customer
• Local / regional focus
• Focused on markets where we have a competitive advantage
Builder finance
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9. Return on Investment
WRECO has been a consistent top-quartile financial performer
compared to other public homebuilders
Return On Investment
50
45
40
Percentage
35
30
45.9
25
34.9
30.8
20
25.6 25.3
15
10
2000 2001 2002 2003 2004
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10. Land Pipeline
WRECO currently has a 6-year supply of land and lots
under control
Lots Under Control
12
10
8
Number of Years
6
4
2
0
1994 2005.1 10
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11. WRECO — RIR
WRECO is widely known for industry leadership in
job-site safety
4.5
4.0
3.23
3.5 2.95
3.0
2.5
2.0
1.05
1.5
0.52
1.0
0.5
0.0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005.1
Employees Contractors
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12. WRECO Ranked 16th in Closings in 2004
Rank by Closings
51,000
46,000
41,000
Total New Residential Closings
36,000
31,000
26,000
21,000
WRECO: 5,264 Closings
16,000
11,000
6,000
1,000
(Source: Builder Magazine, May 2005 and Professional Builder Magazine, May 2005) 12
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13. WRECO Ranked 14th in Revenue in 2004
Rank by Total Revenue
$14.0
$12.0
Total Revenue, $B
$10.0
$8.0
$6.0
WRECO: $2.5 Billion
$4.0
$2.0
$0.0
(Source: Builder Magazine, May 2005) 13
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14. WRECO Ranked 1st in Pre-tax Margin Among
the Top 20 Public Builders in 2004
Rank by Pre-Tax Margin
25%
WRECO: 23.6%
20%
2004 Pre-Tax Margin
15%
10%
5%
0%
(Source: SEC filings) • 5/12/2005 • 14
DTP2844.ppt
17. Industry Market Share Trends
Large homebuilders continue
Top 20 Market Share
to gain scale faster than small
builders 30.0%
• Improved efficiencies 25.0%
• Sophistication 20.0%
• Stability
15.0%
10.0%
1993—2004 CAGR
5.0%
Top 5 Closings 14.8% 0.0%
Top 6–10 10.9% 1993 1998 2003 2004
Top 11–20 6.3% Top 5 Top 6-10 Top 11-20
Total U.S. 5.5%
Source: Builder Magazine, US Census Bureau, NAHB
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18. Large Builder Competitive Advantages
Builders 1–20 Builders 276–400 Advantage
Gross Margin 26.8% Gross Margin 24.1% 2.7%
SGA 12.5% SGA 13.6% 1.1%
EBIT Margin 14.3% EBIT Margin 10.5% 3.8%
Financing Cost 1.7% Financing Cost 2.1% 0.4%
Profit Margin 12.6% Profit Margin 8.4% 4.2%
Source: Michael Porter presentation, The U.S. Homebuilding Industry and the Competitive Position of Large Builders, 11/18/2003
First look at deals (land and partnership)
Expertise and resources to entitle land
Attract and retain best people
Involvement in industry initiatives
Technology investment and implementation
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19. Our Competitive Advantages
Select markets Powerful regional brands
Experienced management Disciplined execution
• 22-year average tenure • Safe job sites
• Focused value propositions
Localized approach
• Inventory control
• Product preferences
Linkage with Weyerhaeuser
• Community and
governmental issues
Aligned management
processes focused on
financial results
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20. Weyerhaeuser Realty Investors
“Making deals work for over 30 years”
• Dependable source of capital • Hassle-free approval
• Quick initial response • Competitively priced
• Funding on the promised date • Honest, fair and focused
on long-term relationships
2004 Closings: 7,371 Homes and Lots
Equity or mezzanine debt construction financing to medium size
homebuilders (50–600 homes annually)
WRI is an investment manager for institutional investors as well as an
investor itself
• Total investment in WRI represents less than 2% of WRECO’s assets
• Principal markets: Southern California, Northern California, Phoenix,
Las Vegas, Denver, Puget Sound, Portland, Washington DC, Chicago, Boise,
Salt Lake City
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21. WRECO Is Positioned to Succeed
Outlook for the national housing market is favorable
• Demographic trends are compelling
WRECO is a top performer
• We have strong competitive advantages
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22. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
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23. Winchester Homes
“Delivering a superior customer-focused buying experience to
customers that value and can afford customization, in well-designed
communities in superior locations. Preferred brand for the upscale
buyer.”
Home Sizes (sf) Price Range Communities 2004 Closings
1,459–4,502 $245,000–$1,470,000 21 725 homes
● One of the largest builders of upscale homes in the D.C. area
● Market customization leader through program
● First large builder to win NAHB’s Housing Quality Award
● Rated #4, “50 Best Companies to Work For” by Professional Builder Magazine
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26. Winchester Homes: Formative Periods
Started from Market Peaked, Refocused, Implemented
Scratch in Branded Quality Customization
Maryland (WinchestersWorth) (Your Home Your Way)
Established as Large Repositioned, Introduced
Production Builder, “Preferred Brand 10 Cylinders
Entered Virginia Upscale Homebuyer”
1979– 1997– 2003–
1983– 1989– 1994–
1982 2003 Current
1988 1993 1996
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27. Winchester Homes: 10 Cylinders Operationalized
Preferred Brand for
Preferred Brand for
the Upscale Buyer
the Upscale Buyer
Great Great Great
Great Great Great
People Product Demand
People Product Demand
Community Product Product Buying
Community Product Product Buying
Retain Develop Recruit Location Realtors Customers
Retain Develop Recruit Location Realtors Customers
Visioning Design Quality Experience
Visioning Design Quality Experience
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30. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
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31. Trendmaker Homes
“We offer luxury, production homes at a price below
custom homes, but at a premium from other production
builders, while using processes that minimize the hassle
and anxiety of the home buying/building experience.”
Home Sizes (sf) Price Range Communities 2004 Closings
1,700–5,869 $185,000–$667,000 22 745 homes
● Houston’s leading home builder in its targeted upscale market segment
● Broad product offering: townhomes to spacious, luxury single-family homes
● Houston Builder Ranking 2004: 2nd aver. price ($338,000), 8th total $ volume ($252MM)
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32. Trendmaker Homes: Overview
Houston homebuilder since 1971
Purchased by WRECO in 1984
Over the years we have carved out a competitive market
niche with Houston’s discriminating, move-up homebuyers
Enjoys strong Realtor support with 83% co-op sales vs. 64%
for all builders combined
We target where we see the greatest profit potential
• Move-up family buyers
• Move-down empty nesters
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33. Trendmaker Homes: Market Statistics
Houston Market Characteristics
4th largest city in America with almost 5 million residents
Added 34,900 new jobs in 2004
(Best Texas Market: Source, MetroStudy)
Over 40,000 housing starts in 2004
One of the most affordable metro housing markets with
large base of first-time homebuyers and move-up buyers
Highly attractive regulatory environment with few zoning
or entitlement requirements
33
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34. Trendmaker Homes: Competitive Landscape
Few significant entry barriers for new builders or lot
developers
Supply-rich environment, highly competitive at the retail level
Steady demand from both local buyers and corporate
relocation buyers
National and local builders play an important market roll
Realtors play an very important role in corporate relocations
and in reselling existing homes for local move-up buyers
Separate and distinct builder and developer market roles
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38. Trendmaker Homes: Target Markets / Product
60’ Lot Product Line
• 2,400–3,400 s.f.
• $190–250,000
• 90% brick, granite counters
• Move-up and move-down buyers
65’ Lot Product Line
• 2,900–3,600 s.f.
• $250–300,000
• Detached garages, large dining rooms
• Strong family homes, some empty nesters
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39. Trendmaker Homes: Target Markets / Product
70’ Lot Product Line
• 3,000–4,200 s.f.
• $300,000+
• Elegant, highly amenitized homes, master
suites with sitting rooms and large game rooms
• Move-up family buyers
80’+ Lot Product Line
• 3,500–5,000 s.f.
• $300–500,000+
• Auto-court, 3-car garages, lake and golf lots,
high design
• Move-up family buyers
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40. Trendmaker Homes: Target Markets / Product
Acreage Lot Product Line
• 2,500–5,000 s.f.
• $300–500,000+
• Considerable product range, country style and
estate lots
• Multi-generational buyers, large-family living
Townhomes
• 1,800–2,400 s.f.
• $200–260,000
• Rear-loaded, 3-car garages, courtyards,
1- and 2-story plans
• Density: 6 units per acre
• Move-down, empty nesters
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41. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
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42. Quadrant Homes
“We provide the most home for the money —
space, choice, value and hassle-free.”
Home Sizes (sf) Price Range Communities 2004 Closings
1,288–4,120 $170,000–$390,000 11 1,160 homes
● #1 in sales volume in the Puget Sound Region
● Builds homes using an “even-flow” production system
● Selected by Washington CEO Magazine as the “Best Company to Work For” in 2004
● Only homebuilder in the nation recommended for OSHA / WISHA VPP Star status
42
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43. Quadrant Homes: Historical Overview
Purchased by Weyerhaeuser in 1969
1974: Region’s first master-planned community (West Campus)
1990–2000: Leader in commercial build-to-suit market
1998: Reengineered homebuilding value proposition and began
1/day
2002: Exit commercial
2003: 4/day
2004: 5 and 6/day
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45. Quadrant Homes
Market Characteristics
New homes
•
Resale homes
•
Jobs
•
Regulatory environment
•
Competitive Landscape
• Only 2 publics
– No large land positions
• Mid-size (300) pushing for
500 sales recently
• The 2 publics pushing out into
the next ring
45
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46. Quadrant Homes: Strategies
Remain focused on executing in the Puget Sound core
($250–$400,000)
Create compelling value in next ring out
($150–$300,000)
Target unavailable price point in 3rd ring
($125–$200,000)
Stay true to More House, Less Money by appealing to
1st and 2nd homebuyers
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47. Quadrant Homes: Value Proposition
More House — Less Money
Differentiated by execution of the value delivery system
and “tipping-point” brand value
Market position is sustainable because
Surgical focus on principles
•
People
•
Ability to transport brand
•
Disciplined land-acquisition strategies
•
47
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48. Quadrant Homes: Brand
Local Northwest focus
Reinforced by “listening to the customer”
Focus on referral, not traffic generation
Create a repeatable / referable experience
Demonstrate “green” and citizenship values
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49. Quadrant Homes: Value Delivery System
The competitive edge of a low-cost producer
• Safety focus with commitment to quality
• 6 starts and 6 closings every day
• 54-working-day construction schedule
• Harnessing the power of choice
• Focusing on returns through velocity
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50. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
50
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51. THE WAY YOU WANT TO LIVE
Founded in Los Angeles in 1921
Purchased by WRECO in 1969
Celebrating over 50 years in the Los Angeles, San Diego and
Las Vegas markets
Our Senior Management Team has an average tenure of 22 years
Builder Magazine’s “2003 America’s Best Builder”
U.S. EPA Energy Star “2003, 2004 and 2005 Partner of the Year”
51
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52. Pardee Homes: Value Proposition
Our value proposition is customer driven, based on 80+
years of experience and intentionally broad
“We build homes and communities
for the way people want to live,
creating premium value
through a trusting builder relationship.”
Focused on development of highly amenitized master-
planned communities and the construction of homes for
first-time through luxury move-up buyers, with extensive
option offerings
52
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53. THE WAY YOU WANT TO LIVE
We develop a keen sense of regional buyer preferences and
earn exceptional homebuyer loyalty
We utilize Six Sigma processes to drive continuous improvement
We are a recognized industry leader in energy efficient and
“Green Building” practices
is a powerful brand that succeeds against
national brands by being home grown, and
benefiting from established trade contractor
and consultant alliances
53
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54. THE WAY YOU WANT TO LIVE
CALIFORNIA
CALIFORNIA
Sacramento
Home Sizes (s.f.) Price Range
Pleasanton
998–5,118 $264,000–$2,100,000
Santa Clarita
Communities 2004 Closings Corona
Los Angeles
Irvine
25 1,514 San Diego
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56. THE WAY YOU WANT TO LIVE
Los Angeles / Ventura
East Bay / Sacramento
56
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57. THE WAY YOU WANT TO LIVE
Inland Empire
Orange County / San Diego
57
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58. THE WAY YOU WANT TO LIVE
NEVADA
Home Sizes (s.f.) Price Range
1,414–4,330 $258,000–$789,000
Las Vegas
Communities 2004 Closings
17 1,120
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61. Pardee Homes: Competitive Landscape
Characteristics of our markets
• Employment trending positive
• Housing pushing to the edges
• Land is becoming more scarce
Demographics of our markets
• 50% families aged 35-40
• Increasingly ethnically diverse
• Buyers seek affiliation with an eco-friendly builder
Product position
• 90,000+ options available to satisfy buyer preferences
61
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62. Pardee Homes: Competitive Advantage
We develop master plans that offer our customers a wide
variety of opportunities
• Housing
• Employment centers
• Shopping and civic uses
• Schools
• Recreational amenities
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63. Pardee Homes: Competitive Advantage
We have proven problem-solving expertise in running the
gauntlet of local, state and federal regulatory processes
Well-honed execution skills resulting in superior performance
In our 84 year history we have never had an unprofitable year!
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66. Pardee Safety History
Recordable Incident Rate (RIR)
5
4.36
4
3.01
3
2 1.67
.87
1 .63 .56
.36
0
1999 2000 2001 2002 2003 2004 2005.1
• Recordable incident rate is the number of incidents per 200,000 labor hours
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67. WRECO Homebuilding Strategy
Local business, national scale
Unique local value propositions
• Local land strategies
• Local design and construction
Share common values
• Safety
• People
• Business conduct
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68. WRECO Homebuilding Strategy (cont.)
Share common support
• HR administration, training and development
• Information technology
• National purchasing
• Capital
Share common practices
• Listen to the customer
• Disciplined financial management – ROI focus
Leverage scale of WRECO / Weyerhaeuser
Aligned culturally with Weyerhaeuser
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70. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
70
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71. Agenda
7:00 a.m. WRECO Overview Dan Fulton
7:30 a.m. Homebuilding Operations Dan Fulton (Moderator)
Larry Burrows
Will Holder
Peter Orser
Mike McGee
Hal Struck
8:40 a.m. Break
8:50 a.m. Land and Land Development Dan Fulton (Moderator)
Jon Lash
Steve Margolin
Steve Nardella
Joel Marshall
John Osgood
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72. Land is the Lifeblood of our Business
Land acquisition is managed as a process
Land is purchased in alignment with market specific
strategies
Effective land acquisition requires a balance between
opportunity, capital and risk
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73. Land Acquisition Process Overview
Land
Strategy
Deal Look-Back Land Leads
Contract
Contracts
Administration
Project Approval Feasibility
Financial
Analysis
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74. Land Strategy Drives the Process
Main elements of land strategy
• Understanding market attractiveness
– What is the opportunity?
• Plan to take advantage of opportunity
– What is the strategy?
• Strategy implementation
– How do we balance the opportunity, capital requirements
and risk?
74
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75. Land Strategy / Key Measurements
Number of years supply in lot pipeline
• Lots owned or to be acquired via specific performance contract
• Lots under option contract
Compliance with internal debt limits
Achieves target returns
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77. Typical Land-related Roles
Acquisitions / deal-maker
Planning and entitlements
Development operations
Feasibility analyst
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78. Selling Land is an Integral Part of our Strategy
In large mixed-use master plan communities, we routinely
sell the non-residential properties to other developers
“Improve our hand in land”
Land Revenue as a Percent of Total Revenue
100%
90%
80%
Land Revenue Percentage
70%
60%
50%
40%
30%
20%
18%
10% 13% 13% 12%
11%
0%
2001 2002 2003 2004 2005.1
Land Revenue
78
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79. Land Acquisition Key Controls
Standard underwriting package, including common
financial analysis model
Risk-adjusted minimum hurdle rates
Annual and 5-year planning process
All deals require approval of WRECO’s President and CEO
79
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80. Land Regulation
Growth Management
Comprehensive Plan
Permitting
80
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81. Land Acquisition Process Overview
Land
Strategy
Deal Look-Back Land Leads
Contract
Contracts
Administration
Project Approval Feasibility
Financial
Analysis
81
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82. Land Planning Optimization
Land planning is closely related to the entitlement
process and technology has provided tools to quickly
analyze alternatives
• Linear Programming (financial optimization)
• Computer Simulation (physical optimization)
82
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83. Land Planning Optimization
Linear Programming for Land Use Optimization
1200 Acres
83
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88. Land Acquisition Process Overview
Land
Strategy
Deal Look-Back Land Leads
Contract
Contracts
Administration
Project Approval Feasibility
Financial
Analysis
88
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89. Agenda
10:10 a.m. Construction Practices and Trends Mark Gray
Carlos Guilherme
11:10 a.m. South Village Case Study Alan Shapiro
John Monacci
11:30 a.m. Meeting Adjourns Dan Fulton
Noon Depart for South Village Tour
3:30 p.m. Return to airport
89
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91. Presentation Outline
Overview of building practices
Major trends in home construction
WRECO / WY responses to these trends
91
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92. Leading Producer of
Residential Building Materials
2004 Total Third Party Sales $9.8 Billion
Other Products
21%
Softwood Lumber
40%
Plywood / Veneer
10%
Oriented Strand Board
14%
Engineered Lumber
Products
15%
92
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93. Focused on the New Residential Market
R&R
19%
New Res
50%
Industrial
23%
Export Non Res
5% 3%
93
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94. Value of WRECO / Wood Products Relationship
Collaborate to gain superior information
• Trends in home construction
• Better understanding of product usage requirement
• Sources for product innovation
Jointly develop and trial innovations — products and
building methods
Joint marketing opportunities (Sales centers, Extreme, etc.)
94
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95. Use of Weyerhaeuser Products
100% of WRECO’s wood floor systems use Weyerhaeuser products
% of 2004 Closings
TJ Only
4%
Structurwood Only
WY Floor
13%
System (TJ and
Structurwood)
83%
95
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96. Presentation Outline
Overview of building practices
Major trends in home construction
WRECO / Weyerhaeuser responses to these trends
96
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97. Cost Breakdown of Large Builders*
% of Home Sale Price
Other
2% Profit
13%
Financing Land and related
2% 24%
Overhead
6%
Marketing/Advert.
5%
Constuction Labor
Materials & Indirect
21%
27%
* Average of 6th through 25th builder
Source: Professional Builder Magazine, May 2005
97
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101. Regional Differences Will Persist
• Building practices / code
requirements
• Builder concentration Regionally distinct
Regionally distinct
models will
models will
• Propensity to prefabrication continue to exist in
continue to exist in
the near term
• Labor availability the near term
• Relative structure supply chain
participants
101
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102. Presentation Outline
Overview of building practices
Major trends in home construction
WRECO / Weyerhaeuser responses to these trends
102
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103. Trends in Homebuilding Industry
Tightening
Labor Markets
Position to Profit in
Position to Profit in
Builder and Enabling
this New
this New
Dealer Technology
Environment
Environment
Consolidation
Improving
Componentization
Economics
103
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104. Builders Continue to Consolidate
Production Builder Market Share
% of total closings
35
Top 100
30
25
Top 10
20
15
10
5
0
92
93
94
95
96
97
98
99
00
01
02
03
19
19
19
19
19
19
19
19
20
20
20
20
Source: Builder Magazine
104
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105. Greater Use of Components
105
DTP2844.ppt • 5/12/2005 •
108. Industry Trends
More components to reduce cost, cycle time and
improving quality
Improved coordination across the supply channel
Production builders will lead this change
Basis of competition for suppliers will change from
products to solutions
Balance common processes with unique regional needs
108
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109. Presentation Outline
Overview of building practices
Major trends in home construction
WRECO / Weyerhaeuser responses to these trends
109
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110. Positioning Initiatives
Clear focus on the residential market
Developing new value proposition
• Innovating on products
• Enabling software
• Market presence
Investing in world class technology
Operating excellence throughout the delivery chain
Bringing the full value of WY integration
• Homebuilding/Manufacturing
• Systems creation
• Manufacturing/Timberlands
110
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112. Agenda
10:10 a.m. Construction Practices and Trends Mark Gray
Carlos Guilherme
11:10 a.m. South Village Case Study Alan Shapiro
John Monacci
11:30 a.m. Meeting Adjourns Dan Fulton
Noon Depart for South Village Tour
3:30 p.m. Return to airport
112
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114. Winchester Homes:
How We Arrived Here — South Riding Story
Winchester Purchased Identified Adjacent Parcels
102 “Premium” Lots from (428 Lots) to Continue
South Riding Developer Successful Program
Trafalger House
Sales Begin at
South Village
1996–1998
1999 2003–Current
114
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122. South Village: Retreat Home Styles
3,000-3,500 s.f. High $700,000
2,900-4,500 s.f. Low $800,000
122
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123. South Village: Our Successes
268 Sales since community start (2003)
43% Average increase in price — Townhomes
40% Average increase in price — Single Family
96% Willingness To refer*
74% Highly enthusiastic customer rating*
42% Homeowner referral rating*
* Source: Woodland/O’Brien & Associates
123
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124. Agenda
10:10 a.m. Construction Practices and Trends Mark Gray
Carlos Guilherme
11:10 a.m. South Village Case Study Alan Shapiro
John Monacci
11:30 a.m. Meeting Adjourns Dan Fulton
Noon Depart for South Village Tour
3:30 p.m. Return to airport
124
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125. Thank You
Check out of room (if not already done)
Take luggage to curbside
Pick up box lunch on designated table
Board bus no later than Noon
Enjoy your day, travel safely!
125
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